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Tappahannock-based EVB Bank has debuted a private banking division for affluent Williamsburg residents who are seeking personalized assistance managing their finances.
EVB Private Banking will provide “sophisticated, strategic and comprehensive banking and wealth management solutions for high net worth customers” on the Peninsula, according to a news release.
Services include investment advice, portfolio management, wealth structuring and estate planning, the release states.
Williamsburg resident Bonnie Selwaeh will lead the division. She is an EVB Bank senior vice president who previously served as a premier client manager at Bank of America and a private adviser in the wealth division of BB&T.
“EVB Private Banking offers a new banking approach for clients in the Tidewater area who maintain substantial assets,” Selwaeh said in a statement. “We pride ourselves on the many benefits we offer as a community bank, including thoughtful personal attention to our customers’ unique needs and expectations.”
The affluence of high net worth individuals is typically based on liquid assets. There is no precise definition of how wealthy someone needs to be to have high net worth, but the most commonly referenced value is $1 million in liquid financial assets.
The Williamsburg office is located at 1430 High St. in the city.